Monday, June 8, 2009

"MTN & Bharti Airtel Could Merge Operations by Mid-July"

Bharti Airtel, the Indian mobile operator and MTN, the South African
mobile group could experience a rise in debt levels taking the
combined total to USD 6.3 billion if the deal goes ahead. Bharti's
debt is likely to hike to around USD 3.6 billion and MTN's to around
USD 2.7 billion, although Bharti is likely to see additional net debt
of USD 4 billion and MTN an additional USD 2.9 billion.

The deal on the merger between the two giants could be inked by
mid-July. "The two parties are conducting due diligence and at this
point there are no concerns about the deal being derailed," a source
revealed. "If it continues like this there should be a final agreement
by mid-July, if not earlier."

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